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Disclaimer – Payback

✅ Regulatory Associations
We work with SEBI-registered Research Analysts (RAs) of:

Arihant Capital – SEBI Research Analyst Reg. No. – INH000002764
Lemonn – SEBI Research Analyst Reg. No. – INH000016764

Any execution or assistance regarding investments is handled solely by SEBI-authorized intermediaries.

⚠ Important Legal Disclosures
Payback is not a SEBI-registered investment advisor, research analyst, or financial advisor.
We do not offer personalized investment advice or financial planning services.
Educational Purpose Only:
All content shared on our platforms — including trades, strategies, charts, and research — is strictly for educational and demo purposes. These are intended to help users understand market behavior and trading concepts, not as financial recommendations.
No Investment Pressure:
We do not encourage or force any user to invest, trade, or take financial decisions based on our content. Participation is voluntary and at your discretion.
💡 Risk Warning
Trading and investing in the stock market involve financial risk. Past performance is not indicative of future results. You are solely responsible for your investment decisions and outcomes.

📬 Contact Us
If you have questions regarding this disclaimer, feel free to reach out to us via our website:
🌐 https://payback.marketing/

Payback is an authorized partner of Arihant Capital Markets Limited, a SEBI-registered stock broker and depository participant, and an Authorized Partner of CoinSwitch crypto exchange (operated by Bitcipher Labs LLP).
Arihant Capital's SEBI Registration Number: INZ000180939. Member Details: NSE: 07839; BSE: 313; NSDL DP ID: IN301983; CDSL DP ID: 43000; NCDEX: 01274; MCX: 56565; AMFI ARN: 15114 (Valid until 18/12/2025); SEBI Merchant Banking Reg. No.: MB INM000011070; SEBI Research Analyst Reg. No.: INH000002764 (BSE RA Enlistment No. 5168).
Payback Authorized Partner IDs:
•⁠ ⁠MCX: MCX/AP/171658
•⁠ ⁠NSE: AP0881015221
CoinSwitch Crypto Exchange:
•⁠ ⁠Legal Entity: Bitcipher Labs LLP (registered under FIU).
•⁠ ⁠Nodal Officer Contact for law enforcement/regulatory authorities: [nodaldesk@crypto.coinswitch.co](mailto:nodaldesk@crypto.coinswitch.co)
•⁠ ⁠Platform technology licensed from Bitkuber Investments Pvt. Ltd (CIN U65990KA2021PTC145060).
CoinSwitch Corporate registered Address:
Infinity, Electra Block, 1st Floor, Wing A Exora Business Park, Prestige Tech Park II, Bellandur, Bengaluru – 560037, Karnataka, India. Registered Address of Arihant Capital: 6, Lad Colony, Y.N. Road, Indore – 452003.
Corporate Office Address: #1011 Solitaire Corporate Park, Andheri Ghatkopar Link Road, Chakala, Andheri (E), Mumbai - 400093.
Crypto Disclaimer:
Crypto products are unregulated and highly risky, with no regulatory recourse for losses. Trading involves substantial risk and potential loss exceeding initial investments. Only risk capital should be utilized, and past performance does not guarantee future results.
Risk Disclosure: Investments in securities, commodities, and crypto markets carry significant risk; please read the risk disclosure document prescribed by SEBI and the 'Do’s and Don’ts' provided by NSE, BSE, NCDEX, and MCX carefully before investing.
Complaints & Grievances:
•⁠ ⁠Securities Broking related: [complaint@arihantcapital.com](mailto:complaint@arihantcapital.com)
•⁠ ⁠Depository Participant related: [depository@arihantcapital.com](mailto:depository@arihantcapital.com)
•⁠ ⁠SEBI SCORES Portal: [Click here to register complaints](https://scores.gov.in)
Attention Investors:
•⁠ ⁠KYC is a one-time exercise across all SEBI intermediaries.
•⁠ ⁠Keep mobile number/email updated with your stockbroker and depository participant.
•⁠ ⁠Verify transaction alerts from exchanges/depositories regularly.
•⁠ ⁠Perform independent analysis; avoid following unsolicited tips.
•⁠ ⁠Brokers or authorized persons are not permitted to offer guaranteed returns or capital protection.
Advisory for Derivatives:
•⁠ ⁠Derivative trading involves significant risk. 9 out of 10 traders incur losses, averaging ₹50,000. •⁠ ⁠Transaction costs can significantly impact returns. Issued in the interest of investors by Payback.